Zephyr Energy provides an update on its project in the Paradox Basin, Utah, U.S.A (the "Paradox project"), where the Company is preparing to spud the 'dual-use' State 16-2 well before the end of the year.

The Company is pleased to announce that it has now received all the final approvals required to proceed with the spud of the State 16-2 well. These approvals include surface rights and rights to drill from the Utah School and Institutional Trust Lands Administration ("SITLA"), federal Right of Way approvals from the Bureau of Land Management ("BLM"), and Application to Drill ("APD") approval from the Utah Division of Oil, Gas and Mining ("DOGM"). In addition, the Company has received all necessary consents from its joint-venture partner on the Paradox project.

With these approvals and permits in place, the Company is working to finalise project contracts to enable rig mobilisation over the coming days. The road and site preparation work for the well has now been successfully completed, and work to responsibly plug and abandon the existing inactive well on site has commenced.

Colin Harrington, Zephyr's Chief Executive said,
"I am delighted that we have secured the final approvals and consents required to facilitate the commencement of drilling of the State 16-2 well.

"I would like to thank all parties involved in this process for their commitment, flexibility and hard work in enabling us to reach this major milestone within the required timeframe.

"With work on the ground already underway, we are in the final stages of operational preparations to ensure the safe and successful spud of the well by our year-end goal."

KeyFacts Energy Industry Directory: Zephyr Energy